Estimation for a Project? To Term Paper

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Again, organizational and personal history can be helpful -- how long has the organization taken to complete similar efforts in the past? However, scheduling and availability of staff members can either add or reduce to the cost by lengthening or extending the timetable. The expertise of various staff members involved in the project will also be influential in determining its final costs, as more expert staff will need less orientation time. (Peters, 2006, p.2) A client may also demand a certain delivery time, and this may also add to the cost of the project in terms of overtime hours logged, or the need to poll other available human and technical resources from other areas.

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Only then, finally, after the project expenditure and the cost of the personnel effort are calculated, can an overall budget estimate of the project itself can be tabulated.

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